DeFi & Liquidity
AMMs vs Order Books: The Debate Everyone Gets Wrong
Here is the framing you will find in almost every explainer on this topic: AMMs are simple but inefficient, order books are complex but precise. Pick your poison.
Igniz
Insights — page 7 of 7
Research from the Igniz desk
Trading Mechanics
The "Market vs Limit Order" Frame Is a CEX Concept — And It's Getting DEX Traders Rekt
On March 12, 2025, a trader swapped 732,583 USDC and walked away with 18,636 USDT. Not a rug. Not a hack. A market order with 100% slippage tolerance broadcast openly to the public mempool and sandwiched six separate times.
Igniz